what’s the point of bitcoin if segwit2x takes over?steemCreated with Sketch.

in #news7 years ago

what’s the point of bitcoin if segwit2x takes over?

if a few centralized miners/exchanges can dictate the bitcoin protocol, how is that different than what central bankers do with fiat?

bitcoin is meant to be a decentralized/distributed network. if it can't be that, then why would anyone switch from fiat/gold/etc to bitcoin? we already have crypto altcoins that can do borderless transactions so that isn't the main point of bitcoin.

crypto needs a reserve/settlement "currency" otherwise it's not much different from paypal/western union. the world needs a decentralized/distributed network of money like bitcoin. i don't see much of a future with this world if we let centralization be the norm when it comes to our money/currency aka energy.

i prefer status quo over segwit2x. i'd rather allow bip148 or even bip149 in july 2018 activate segwit to keep bitcoin great. i don't see a rush. bitcoin is WORTH keeping great and even worth waiting to activate segwit in july 2018 with bip149 w/o requiring centralized miners/exchanges to activate it.

i dont care about the fees right now. are they high? yes. does it suck? sure, but look at how much bitcoin's value is gaining? you're winning regardless! and fees will reduce with segwit alone, plus lightning, plus further decentralized improvements. so it's win-win. and if ur only in bitcoin for the $ and dont care about decentralization and making the world a better place, more money will flow into a bitcoin that serves as a store of value than as a daily transactional currency.

i got into bitcoin because my savings account didn't give me any reward for saving and inflation was degrading the value of my savings.

https://247bitcoin.net/whats-the-point-of-bitcoin-if-segwit2x-takes-over/

Sort:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://1bitcoins.net/whats-the-point-of-bitcoin-if-segwit2x-takes-over/

Copying/Pasting full texts is frowned upon by the community.

Some tips to share content and add value:

  • Using a few sentences from your source in “quotes.” Use HTML tags or Markdown.
  • Linking to your source
  • Include your own original thoughts and ideas on what you have shared.

Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post.

If you are actually the original author, please do reply to let us know!

Thank You!

I can understand your concern. Sticking to the status quo is not a bad strategy if no indefinte solution is available for the scaling issue. But in the end, Mr Market will find a way.

More thoughts on this here: https://steemit.com/bitcoin/@wekkel/why-i-do-not-worry-about-the-bitcoin-scaling-debate-anymore